Posts Tagged ‘income tax rules’

Tax Tip Tuesday! Will The Alternative Minimum Tax Apply To You?

What’s your alternative minimum tax (AMT) preference?

Though you might prefer to not think about the AMT, certain income and deductions, known as preference items, affect the way the tax will apply to you. Those amounts, along with others called “adjustments,” are added to or subtracted from the income shown on your tax return to arrive at your AMT taxable income. (more…)

Don’t Overlook State Taxes in your Tax Planning

To keep more of what you make, tax planning at both the state and federal level is essential. Even if you live in an income tax-free state, you may not be able to escape state taxes entirely. (more…)